General Schedule of Features & Charges (GSFC) for SPENDZ

w.e.f 1st April, 2022

Particulars Spendz
AMB
(Average Monthly Balance) NA

NMC Charges for non maintenance of minimum

(Non Maintenance Charges) Nil
monthly average balance
NEFT / RTGS / Fund Transfer
Not Allowed Currently
(Through Netbanking / Mobile Banking)
NEFT/RTGS - Applicable only if done in Branch Not Allowed Currently
Fund Transfers IMPS Not Allowed Currently
Transfer Fund back to own/self Savings Account Nil
SI Failure Nil
Statements Email Statement-Nil; Physical Quarterly-Nil
Ad-hoc statement, Balance Statement
Statements & Alerts Nil
available via digital channels only
Balances Value added alerts (Daily / Weekly) 50p.per SMS(Daily & Weekly)
Spendz Prepaid Account Closure
Other Charges (if closed after 1 month and Account Closure Charges - 0
before 6 months of A/C opening)
Card Issuance Fee - Nil (Limited Period Offer)
Card Annual Fee Nil
Card Reissuance/Replacement Rs 200 + Applicable Taxes

Spendz Pre Paid Card Cash withdrawal at Kotak Bank ATMs Nil
(Spendz / ATM Withdrawal Non-Financial Transactions at Kotak Bank ATMs Nil
& Other Charges)
Cash withdrawal at Other domestic bank ATMs Rs 21 + Applicable Taxes
Non-Financial Transactions at other domestic Bank ATMs Rs 8.5 + Applicable Taxes
Generation/Regeneration of PIN (sent through courier) Rs 50 per request
Cardless cash withdrawal (IMT) Currently Not Available
• Cash withdrawal limit from other Domestic ATM is Rs. 10000 per transaction subject to maximum Rs. 25,000 per day
• Mandatory Alerts will not be charged. Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the
Bank, will be sent free of charge, even if Daily / weekly Balance SMS alerts facility has not been subscribed.
• For all value figures k = 1000
• As per RBI guidelines, Business / Commercial transactions are not permitted in the Spendz Prepaid Accounts.
• The above charges are subject to revision with a prior intimation of 30 days to all account holders. Closure of account due to revision of
charges will not be subject to account closure charges.
• <> Penalty Charges. Not applicable once the Prepaid account becomes inoperative/ dormant.
• Non-financial transactions are Balance Enquiry, Mini Statement & PIN Change
• Charges mentioned above will attract GST as applicable from time to time.Effective Goods and Service tax rate (GST) will be 18% on
taxable value
• State government taxes/ Cess as applicable shall be charged at prevailing rate
• TDS applicable for CASH withdrawal will dependent on submission of proof of Income Tax Return filed :-
Aggregate Cash Withdrawals in all Income tax Return copy Submitted to Income tax Return copy NOT Submitted
accounts in a Financial Year Bank of any 1 of last 3 financial year to Bank for any of last 3 financial year
Upto Rs.20 Lakhs Nil Nil
Rs.20 lakhs to Rs. 1 crore Nil 2%*
In Excess of Rs. 1 crore 2%* 5%*

*On or after 01.04.2023, if PAN is not linked to Aadhar, then the TDS deduction at the rate 20% as per section 206AA of the Income Tax
Act will apply.